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Mid East Info
06-05-2025
- Business
- Mid East Info
UAE's FoodTech Challenge Unveils 42 Trailblazing Semifinalists from Around the World Competing for $2 Million Cash Prize
The third edition of the FoodTech Challenge received more than 1,200 submissions from 113 countries A panel of regional and international judges selected 42 standout startups as this year's semifinalists Four winners will be announced later this year, sharing a $2million cash prize to scale their solutions across the UAE and underserved markets in the Global South (L-to-R) Rima Al Mokarrab, Chair of Tamkeen, and Co-Chair of the FoodTech Challenge, and H.E. Mariam Al Mheiri, Head of the International Affairs Office at the UAE Presidential Court, and Co-Chair of the FoodTech Challenge during the launch of the 3rd iteration of The FoodTech Challenge. Abu Dhabi, UAE: May 2025 – The FoodTech Challenge (FTC) has shortlisted 42 innovative early-stage startups for their tech-driven solutions that have the potential to transform global food systems. Organized by the International Affairs Office at the UAE Presidential Court and Tamkeen and delivered in partnership with the Gates Foundation, ne'ma, the UAE's Food Loss and Waste Initiative, and Silal, a leading UAE agri-food company, the third iteration of FTC offers its biggest cash prize to date. The competition was announced at the Clinton Global Initiative Annual Meeting in 2024. Later this year, four winners will receive a share of $2 million in cash grants. In addition to funding, each winner will benefit from go-to-market support and access to a global network – empowering them to deploy their solutions in the UAE and scale across the Global South. With its arid desert climate, limited arable land, and scarce freshwater resources, the UAE offers an ideal launchpad for pioneering innovations that can be adapted to similar environments worldwide. FTC's shortlisted candidates were selected by a panel of more than 30 technical and commercial experts spanning agri-tech, venture capital, climate science, food systems, and policy. Judges received more than 1,200 entries from across 113 countries, an 80% increase in applications over the previous edition. Submissions feature groundbreaking solutions, from lab-grown dairy products and regenerative seaweed farming to AI-powered crop monitoring and biodegradable hydrogels. Startups from the UAE accounted for 16% of the semifinalist cohort, underscoring the Emirates' emergence as a global hub for agri-tech innovation, while 40% have at least one female co-founder and 33% are led or co-led by youth entrepreneurs. The cohort includes startups from Australia, Austria, Brazil, Egypt, France, Germany, Ghana, India, Indonesia, Israel, Italy, Japan, Kenya, Malaysia, Morocco, Norway, Poland, Portugal, Saudi Arabia, Singapore, South Africa, Thailand, Tunisia, Turkey, Uganda, the UAE, the United Kingdom, and the United States. Khuloud Hassan Al Nuwais, Chief Sustainability Officer, Emirates Foundation and ne'ma Committee Secretary General, said: 'The third edition of the Food Tech Challenge continues to spotlight the power of innovation in transforming the future of food systems. This year's shortlist is a testament to the ingenuity of local and global startups working at the intersection of technology and sustainability—45 percent of which are tackling food loss and waste, one of the most pressing challenges facing our world today. From smart packaging and AI-driven analytics to urban agriculture and renewable energy solutions, these finalists reflect the bold, cross-sectoral approaches we need to build resilient, inclusive, and sustainable food systems. ne'ma is proud to support this platform that accelerates impactful solutions and contributes to building a vibrant community of changemakers.' Salmeen al Ameri, Chief Executive Officer, Silal, said: 'As the UAE emerges as a global leader in agri-tech innovation, we take pride in contributing to its successes by supporting initiatives such as the FoodTech Challenge. Bold and scalable solutions require a launchpad for growth, and this year's cohort is filled with truly innovative solutions that, with the right support, can help make a real impact. We look forward to working closely with the finalists and winners, providing them market access as part of our wider commitment to catalyzing change in the food and agriculture industry.' In the next phase of the competition, selected startups will participate in a series of interviews and pitches, ultimately leading to the selection of a final top 10 shortlist. Finale judges for the third edition of the FTC include HE Mariam Almheiri, Head of the International Affairs Office at the Presidential Court of the UAE, and Co-Chair of FTC; Rima Al Mokarrab, Chair of Tamkeen and Co-Chair of FTC; HRH Prince Khaled bin Alwaleed bin Talal Al Saud, Founder and CEO of KBW Ventures; Khuloud Hassan Al Nuwais, Chief Sustainability Officer, Emirates Foundation and ne'ma Committee Secretary General; Rodger Voorhies, President of Global Growth & Opportunity at the Gates Foundation; Dr. Ismahane Elouafi, Executive Managing Director at CGIAR; Dr. Agnes Kalibata, President of AGRA and former UN Special Envoy to the Food Systems Summit; and Dr. Shamal Mohammed, CEO, Innovation Oasis at Silal. Launched under the UAE's National Food Security Strategy 2051, FTC leverages the country's arid, resource-scarce environment as a launchpad for scalable innovations. With an estimated two billion more people to feed by 2050, the competition is anchored in the UAE's broader vision to food security by identifying and supporting solutions related to the food-water-energy nexus, reducing food loss and waste, and accelerating solutions that can be replicated globally. Winners of previous editions have gone on to achieve notable success, securing follow-on funding, forming strategic partnerships, and bringing their innovations to market. Among them are iyris (formerly Red Sea Farms), which has raised over $34 million since its win and scaled its technologies across Silal farms in Abu Dhabi, and Orbisk, which completed a €8.3 million Series A funding round in December 2024. To date, FTC winners have raised a total of $60 million for their solutions following their participation in the challenge. About the Food Tech Challenge FTC: The FoodTech Challenge (FTC) is a global competition that identifies and supports leading early-stage, tech-driven solutions poised to transform food systems in arid, hot, and increasingly challenging environments. These environments, in addition to being among the most food-insecure nations, are also underserved, untapped for innovations, and underinvested in by traditional agricultural practices. Organized by the United Arab Emirates, FTC is on a mission to catalyze innovation to address the unprecedented strain that climate change, changing demographics, and other supply disruptions are placing on the food security of more countries each year. The third edition of the FoodTech Challenge is structured around three key focus areas related to the food-water-energy nexus: Food & Water, Food & Energy, and Food Loss & Waste. The competition will enable four winners to develop their solutions in the UAE and deploy them across underserved markets in the Global South, with each winner benefitting from a shared prize of $2M in cash grants, as well as access to a robust network of partners. FTC empowers innovators to contribute to a world where food security is a reality for all. The competition is delivered by the International Affairs Office at the Presidential Court of the UAE and Tamkeen in partnership with ne'ma, the UAE's Food Loss and Waste Initiative; Silal, the UAE's leading agtech company; the Gates Foundation, Clinton Global Initiative, and other key partners. The program is further supported by Ecosystem Enablers, including start-up accelerators such as Hub71, Sheraa, and startAD; organizations like the International Center for Biosaline Agriculture, AGRA, and CGIAR A4IP; and companies such as Al Tamimi & Company.
Khaleej Times
26-02-2025
- Business
- Khaleej Times
Abu Dhabi's 2PointZero aims to launch IPO by year-end, says group CEO
Abu Dhabi-based 2PointZero—which invests in emerging technologies and future-sustaining businesses—aims to go public and list on the Abu Dhabi bourse this year, the group CEO said. While speaking at Investopia 2025 in Abu Dhabi on Wednesday, Mariam AlMheiri, group CEO of 2PointZero, said: 'We hope to be listed on the Abu Dhabi Securities Exchange by the end of this year. So keep your eyes and ears open.' 2PointZero is a global investment platform and a subsidiary of International Holding Company (IHC). Earlier this month, 2PointZero announced the strategic acquisition of Cairo-based Maseera Holding for Financial Investments to launch a new Abu Dhabi-based entity under the Maseera Holding name. 2PointZero plans to invest $1 billion into Maseera over the coming years. Mariam AlMheiri added that they're 'excited' and looking for more partnerships. Many UAE companies—both public and private—are tapping the equity markets to raise funds for expansion and to drive growth. It is expected that Abu Dhabi will lead firms in terms of going public this year. Abu Dhabi-based Alpha Data is the first UAE company to announce an IPO this year and will list on the Abu Dhabi Securities Exchange next month. On Wednesday, Alpha Data set the final price for its IPO at Dh1.50 per share, at the top end of the previously announced offer price range, raising a total of Dh600 million. It implies a market capitalisation at the listing of Dh1.5 billion. On Tuesday, Reuters reported that UAE national carrier Etihad Airways will also go public this week and list on the Abu Dhabi bourse. As reported by Khaleej Times earlier, the UAE IPO pipeline looks strong this year as well after a strong performance in 2024. Many UAE ministers, bankers, foreign ministers and other dignitaries attended the opening day of Investopia 2025.
The National
26-02-2025
- Business
- The National
Investment platform 2PointZero to be listed on ADX by end of year, CEO says
Abu Dhabi-based investment platform 2PointZero aims to list its shares on the Abu Dhabi Securities Exchange by the end of this year amid the continued momentum for initial public offerings in the UAE. The company 'is extremely welcoming of partnerships across the globe, and aims to expand in Asia, Latina America and Africa,' group chief executive Mariam Al Mheiri told the Investopia conference in the UAE capital on Wednesday. She did not provide details of the total size of the planned offering or how much 2PointZero aims to raise through the transaction. Abu Dhabi's International Holding Company set up last year 2PointZero year with a total asset base of Dh100 billion ($27.2 billion). Companies under 2PointZero include private investment firm Chimera as well as its subsidiaries Lunate and Beltone. International Resources Holding, which is focused on energy transition minerals, Sagasse Investments, which had total assets of Dh8 billion as of 2023 and Citadel Technologies, which operates a crypto mining plant in Abu Dhabi and specialises in Bitcoin extraction, are among other businesses in the new holding company. Earlier this month, IRH bought Cairo-based digital financial service provider Maseera Holding and revealed plans to invest up to $1 billion over the next few years to support its expansion. Last year, IRH completed the acquisition of Mopani Copper Mines in Zambia, to expand its operations in the mining sector, with the value of the deal resting at $1.1 billion. Ms Al Mheiri said the Zambia mine is delivering about 100,000 tonnes of copper, with a plan to increase output to 220,000 tonnes. "IRH is a fully integrated mining company, exploration, mining all the way up to trading. So it's not just buying assets in the mining sector, but actually operating," she said. The listing plans come as IPO momentum continues in the Middle East, with the region's economies moving ahead with their diversification strategies. Last year, a number of companies listed their shares on regional stock markets including food delivery platform Talabat Holding, Lulu Group, Oman's oil and gas company OQEP, ADNH Catering, a unit of Abu Dhabi National Hotels, NMDC Energy, a unit of Abu Dhabi contractor National Marine Dredging Company, and Alef Education, among others. On Wednesday, UAE technology company Alpha Data said it raised Dh600 million from its IPO on the ADX.
